Loan Payments via Cash Processing
Overview
Once a cash receipt is accessible through Payment Processing, it is available to use in the application of a loan payment. Enabling access to the payment through Payment Processing requires that your organization first set it up as part of a payment batch in Cash Processing Stage 1. For a detailed description of this process, refer to this page: Cash Processing Stage 1.
The Loan Payments window allows you to specify the amount of the payment as well as certain critical aspects of how it is to be applied. You can then project this over the balances due for the current period in principal, interest, and reserve categories. The system suggests the portions of the payment to allocate in each category and permits you to adjust these amounts if necessary.
- From the DDI Connect main menu, double-click Financial Services
- Double-click Data Processing
- Double-click Receipt Processing (Stage 2). You will see this screen:
Please note that what you see on this screen will be a list of batches entered by users in your organization
- Change the default selections in the Batch Type and Show lists, if necessary, to filter the batches as desired
- When you see the batch that you are wanting to use, click once to highlight it. The items in the batch now become visible:
- To apply a payment, double-click on it. This will display the distribution
